Lemme know your thoughts here on my surface analysis that’s based on TA alone. Forget about the tax breaks approved that will dramatically increase their margins, along with recent partnerships with Shearwater - project launch expected to be completed within 6 months. Essentially is considered a reservoir surveillance program that is aimed at understanding changes in hydrocarbon reservoirs over time. This helps optimize production from these reservoirs - improving efficiency leading to additional cost cutting. I digress. As stated TA analysis:
$Exxon Mobil TA use case for upside, longer time frames. Please provide criticism on anything you feel I’m over looking! Appreciate it.
Synopsis: (condensed)
- Inverse Head and Shoulders pattern potential with the bottoming and bouncing off right shoulder.
- Weekly MACD primed for a bullish crossover.
- Recent major resistance at 111.86 was broken. -
- Lower trend line has stayed in tact (and in channel) with upward trend since Feb 3.
*this week or next weeks candle will have a massive impact on short term price. Bulls want this closing this week above last weeks high of 112.42 to really set the wheels in motion with volume.
Realistic 12 month price target would be 142.
**position: (heavy) 115c exp April
**poaition: (scaling still) 122c exp June
- will be purchasing leaps as well
Shares: (sized medium) 42 average pps is 104.13
